Hello everyone... Here I will inform you by writing a review to introduce a very unique new project called Richmind(RMW), so for that, have a look at the article I made below to give you a very good overview of the project, then What benefits do they provide to everyone? Let's go straight to the discussion below.
For more than a decade now, the world has focused on becoming greener. The 1997 Kyoto Protocol on greenhouse gas reductions and the 2015 Paris Agreement on Climate Change are strong commitments made worldwide to try and curb the global warming crisis. To overcome an adverse crisis, step forward; companies, investors and financial institutions have used ESG criteria to screen potential opportunities and generate investment value. Blockchain & cryptocurrency powered ecosystems, networks & organizations show us a promising way to build decentralized applications that can ease global energy trade and help the economic transition from fossil energy to renewable energy to be sustainable for people, planet while being pro desk and fair.
The RICHMINT platform aims to bring together many Renewable energy buyers and sellers directly, while offering both contracting parties and all the standard tools needed to transact seamlessly with RE tokenizing. Together with RE buyers and sellers, RICHMINT FINANCE (Ri-Fi) is well designed to bridge the investor community, and fund homes to the blockchain market by providing complete data transparency, simplified access, reliability and security, even in environments that cannot be trusted. Together with RICHMINT DAO and its smart contracts, we plan to incorporate a robust layer of protocols and DApps into the ecosystem as a proper way to enforce proper governance and also as a way for shareholders to invest, manage and trade PPAs.
Richmint Sustainable Projects
The RICHMINT Ecosystem envisions providing a diverse global audience with the tools needed to decentralize sustainable infrastructure financing, tokenize emission certifications to help help ESG reporting be more consistent, standardized, effective and also make better use of existing infrastructure assets.RICHMINT marks global energy trading to make RE trading seamless, secure & accessible for all. With a suite of web 3.0 based DApps, now all stakeholders can track and trade energy, exchanging environmental commodities through a layer of fully robust next generation decentralized technology built to facilitate a thriving global energy ecosystem.
While Connecting Energy Producers, Buyers, Market Intermediaries and Lenders, RICHMINT equips them with standardized tools, processes and smart contracts to facilitate transactions even in trustless ecosystems. Energy buyers can reduce their electricity costs to below market prices at any given time with complete transparency and convenience. Therefore, Project Owners can contract out the electricity output of their project to a wider range of buyers, making it easier for their project to get financing.
RICHMINT Decentralized Autonomous Organisation (RICHMINT DAO) oversees the development, deployment and growth of this web 3.0 based Renewable Energy Ecosystem incentivizing all market participants to transition to renewables, to transact at speeds and tap into e ciencies the current standard processes cannot o er yet. Key milestones are stated below:
Decentralize the Financing of Sustainable RE infrastructure.
Tokenize Emission Certi cation for Pollution control.
Standardize the Reporting & E cient usage of Infrastructure for ESG Governance.
Decentralized Governance through DAO implementation.
Web 3.0 DAPPS Ecosystem for seamless Track, Trade and Exchange of Environmental commodities.
E cient Smart Contracts for Buyers and Customers thus reducing transaction cost.
After thorough and meticulous research, the RICHMINT team onboarded experts from various elds, brainstormed, peer-reviewed ows & processes to bring forth a power system that can adapt to the needs of various markets with di erent approaches to energy procurement.
While renewable energy consumers are everywhere sectors, with existing partnerships and expertise in growing industries, RICHMINT plans to target industries such as EV, Agriculture, Pharmaceuticals, Med Tech and greatly benefit them in their renewable energy purchasing power capacity. The RICHMENT Foundation empowers this domain by facilitating integration and setting the standards needed to meet the energy demands of this industry with renewable energy.
It is estimated that there will be between 2 and 20 million EVs in use worldwide by 2020. This is expected to grow to between 18 and 60 million by 2025; and between 22 and 140 million by 2030. Electric vehicle (EV) public charging stations that can purchase Renewable Energy and further enhance their commercial viability. EV Station Ranch may also be interested in upgrading by implementing their own RE Gen setup on unused rooftops to increase profitability as well as ESG value. Stakeholders connected to RICHMINT will be able to leverage the De-Fi suite of protocols and applications for Sustainable finance in conjunction with the Renewable Energy Market.
Renewable Energy Ecosystem
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RICHMINT Group brings together stake holders from across the globe to create a renewable energy ecosystem that helps craft the next gen technological layer. Investors of all ranges play a very crucial role to drive the adoption of Renewable energy.
A Decentralized Autonomous Organization(DAO) is created to oversee the building, testing & shipment of the global RE energy trade experiences. The DAO pools in global talent pools and incentivizes them to create necessary protocol layers & Dapps for all stake holders to invest, manage & trade PPA’s.
Smart contract creation
First, a developer or group of developers must create the smart contract behind the DAO. After launch, they can only change the rules set by these contracts through the governance system. That means they must extensively test the contracts to ensure they don’t overlook important details. The smart contracts are audited to ensure that all trades are conducted as per industry standards.
Carefully crafted to facilitate the digital interaction between stake holders & to make the RE Trade experience intuitive and seamlessly e cient, Open source software Decentralized applications (Dapps) are o ered for RE producers, RE buyers, partners and investors so they can track, trace and trade every kilowatt of energy. From setup to creation, tokenizing & exchanging RE across a sustainable RE Grid, the building blocks are structured as below.
The auction is concluded when the auction period ends. At the conclusion of the auction, the bids are ranked and successful bidders are decided. If the auction’s success criteria are met then the auction is successfully concluded and PPAs are created; otherwise, the auction is deemed unsuccessful and all bids are canceled.
The terms of the successful auction are encapsulated in RICHMINT Digital PPA, which will govern the allocation of energy (via RICHMINT RE Token(RIT)) to each Buyer and underpin the settlement process.
RICHMINT uses Blockchain for these digitized PPAs to achieve the contract transparency, auditability and proving its authenticity. The results of each successful auction are stored in Blockchain as RIT’s using RICHMINT Smart Energy Contracts(RSEC). A RICHMINT RE Smart Contract is an application existing on Blockchain. Users of the
blockchain can interact with the contract. RSEC operations are performed on the Blockchain and the results are validated (immutable, transparent and decentralized computing).
RICHMINT Energy Tokens(RIT) represents the share of rights and obligations obtained under the PPA. Holders of RIT can sell the fractional ownership of PPA settlement periods (RIT Shares). RICHMINTs RIT can be seen as a container to store PPA stakes over time. Each RIT represents a monthly time interval. The time intervals can be altered if needed in future. The tokens are unique in their existence on Blockchain and they enable the secondary market trading.
Inside RICHMINT RE Ecosystem, RMW token acts both as a token & cryptocurrency allowing users to be able to use it for multiple activities. An initial overview of the utility is laid out as below.
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RMW token allows RE Retailers and their consumers to gain access to the P2P RE trading suite and other RICHMINT applications. One must rst stake some RMW tokens to receive RIT’s which can then be used to transfer RE through Richmint smart contracts. A priority access is given to RMW token holders to the PPA auctions. RMW token also acts as a token to access various channels on our token gated discord community.
Website : https://home.richmint.com/
Whitepaper : https://home.richmint.com/wp-content/uploads/2022/01/Richmint-Whitepaper.pdf
Telegram : https://t.me/richmintdaorewards
Facebook : https://www.facebook.com/RICHMINTWORLD
Twitter : https://twitter.com/RMW_richmintdao
YouTube : https://www.youtube.com/channel/UCwo6vSqC7Dyj9Mc4jpA_sFw
Forum Username: Ratih999
Forum Profile Link: https://bitcointalk.org/index.php?action=profile;u=2527799
Telegram Username: @Ratih999
BEP-20 Wallet Address: 0x9d1B3f8eD922d8363D6e5fbB1a024e3BC8092755
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